SBI: 'BUY' for a target of Rs 2125, keeping stop loss below Rs 1980
The share price is currently trading in a downward sloping contracting triangle. SBIBSE -1.59 % is likely to registered breakout from the resistance trend line of the above discussed pattern.
The short, medium and the long term chart clearly suggest that prices are in an uptrend. Fresh momentum rally is likely to be seen only above Rs 2125 levels. Traders are advised to buy at CMP and again on dips with a stop loss placed below Rs 1980 levels for targets of Rs 2125 / 2200 levels.
Prices are in an uptrend in daily, weekly as well as monthly charts. The stock closed the current week on a positive note. On the daily chart, stock has taken support from its cluster of moving averages and formed bullish belt hold line candlestick formation.
We expect prices to continue its upward journey to test Rs 2280 levels in the short term. We recommend traders to buy at CMP for targets of Rs 2280 with a stop loss below Rs 2174 levels.
The share price is currently trading in a downward sloping contracting triangle. SBIBSE -1.59 % is likely to registered breakout from the resistance trend line of the above discussed pattern.
The short, medium and the long term chart clearly suggest that prices are in an uptrend. Fresh momentum rally is likely to be seen only above Rs 2125 levels. Traders are advised to buy at CMP and again on dips with a stop loss placed below Rs 1980 levels for targets of Rs 2125 / 2200 levels.
OBC: 'BUY' for a target of Rs 268/275, keeping stop loss below Rs 242
The share price of Oriental BankBSE 1.88 % have registered breakout from the cup and handle pattern on the monthly chart. Prices have closed on a strong note in the last month. Its stock price is also finding support from its short term moving averages and sustaining well above medium and long term moving averages.
We expect prices to continue the momentum rally and move higher to test Rs 268/275 levels in the short term. We recommend buying at CMP with a stop placed below the level of Rs 242 for the above mentioned targets.
The share price of Oriental BankBSE 1.88 % have registered breakout from the cup and handle pattern on the monthly chart. Prices have closed on a strong note in the last month. Its stock price is also finding support from its short term moving averages and sustaining well above medium and long term moving averages.
We expect prices to continue the momentum rally and move higher to test Rs 268/275 levels in the short term. We recommend buying at CMP with a stop placed below the level of Rs 242 for the above mentioned targets.
TCS: 'BUY' for a target of Rs 2280, keeping stop loss below Rs 2174
Prices are in an uptrend in daily, weekly as well as monthly charts. The stock closed the current week on a positive note. On the daily chart, stock has taken support from its cluster of moving averages and formed bullish belt hold line candlestick formation.
We expect prices to continue its upward journey to test Rs 2280 levels in the short term. We recommend traders to buy at CMP for targets of Rs 2280 with a stop loss below Rs 2174 levels.
HCL Technologies Ltd: 'BUY' for a target of Rs 1468-1500, keeping stop loss below Rs 1386
The share price of HCL TechnologiesBSE 1.61 % corrected after witnessing highs of Rs 1590. On the weekly chart share price seems to be taking support from cluster of moving averages.
On the intraday chart price appears to be taking shape of an inverted head and shoulder pattern. In the last session stock formed bullish engulfing candlestick formation.
The short term momentum indicator is also in buy mode. We recommend buying with a stop placed below Rs 1386 for immediate target of Rs 1468-1500 levels.
The share price of HCL TechnologiesBSE 1.61 % corrected after witnessing highs of Rs 1590. On the weekly chart share price seems to be taking support from cluster of moving averages.
On the intraday chart price appears to be taking shape of an inverted head and shoulder pattern. In the last session stock formed bullish engulfing candlestick formation.
The short term momentum indicator is also in buy mode. We recommend buying with a stop placed below Rs 1386 for immediate target of Rs 1468-1500 levels.
Lupin Ltd: 'BUY' for a target of Rs 1080, keeping stop loss below Rs 984
The share price of LupinBSE 2.03 % was trading in a secular up trend. After consolidating for past two months share price has once again resumed its uptrend. The share price is currently trading near its 52 weeks high. The momentum indicators are also pointing upward
The share price of LupinBSE 2.03 % was trading in a secular up trend. After consolidating for past two months share price has once again resumed its uptrend. The share price is currently trading near its 52 weeks high. The momentum indicators are also pointing upward
Traders can look to buy the stock at CMP for targets of Rs 1080 levels. This trade should be done keeping a strict stop loss at Rs 984 levels.
Dr Reddy's Laboratories Ltd: 'BUY' for a target of Rs 2800, keeping stop loss below 2640
On the daily chart of Dr. Reddy, share price has registered breakout from the falling trend line. On the daily & weekly chart, stock has witnessed bullish crossover of moving averages.
Traders can look to buy the stock on dips near the support zone of Rs 2690 and look to capture the next potential up move keeping in view with the long term charts.
On the daily chart of Dr. Reddy, share price has registered breakout from the falling trend line. On the daily & weekly chart, stock has witnessed bullish crossover of moving averages.
Traders can look to buy the stock on dips near the support zone of Rs 2690 and look to capture the next potential up move keeping in view with the long term charts.
We recommend traders to initiate long positions now and again on dips with a stop loss placed below Rs 2640 levels for targets of Rs 2800/ Rs 2880.
Jain Irrigations Ltd: 'BUY' for a target of Rs 95/104, keeping stop loss below 72
With last month's smart up move, stock registered breakout from an inverted head and shoulder pattern. The long term and short term moving averages are witnessing bullish crossover, indicating fresh up move in the stock.
The important point to note is that stock has completed its three and half years down trend. The momentum indicators are pointing upward.
With last month's smart up move, stock registered breakout from an inverted head and shoulder pattern. The long term and short term moving averages are witnessing bullish crossover, indicating fresh up move in the stock.
The important point to note is that stock has completed its three and half years down trend. The momentum indicators are pointing upward.
We recommend traders to initiate long positions at CMP and again on dips up to Rs 78 -- 80 for targets of Rs 95 / 104 for the medium term. We further recommend using a stop loss placed below Rs 72 for the trade.
NMDC Ltd: 'BUY' for a target of Rs 180/200, keeping stop loss below 146.40
The share price of NMDCBSE 1.43 % was trading sideways for past couple of weeks after witnessing sharp rally. This consolidation had taken shape of a flag pattern. With Friday's up move, stock registered breakout from the flag pattern.
On the monthly chart moving averages are witnessing bullish crossover. The momentum indicators are also suggesting upward momentum.
The share price of NMDCBSE 1.43 % was trading sideways for past couple of weeks after witnessing sharp rally. This consolidation had taken shape of a flag pattern. With Friday's up move, stock registered breakout from the flag pattern.
On the monthly chart moving averages are witnessing bullish crossover. The momentum indicators are also suggesting upward momentum.
We recommend traders to initiate short position below Rs 45 for targets of Rs 40 / 38 levels. We further recommend using a stop loss placed at Rs 48 for the trade.
L&T Finance Holdings Ltd: 'SELL' for a target of Rs 60, keeping stop loss above 67.60
The share prices of L&T Finance Holdings registered running breakdown on the daily chart. The stock is currently finding resistance from the cluster of moving averages.
Traders should note that stock is likely to accelerate downward movement once stock closes below Rs 63. The long term momentum indicators have turned bearish and declining.
The share prices of L&T Finance Holdings registered running breakdown on the daily chart. The stock is currently finding resistance from the cluster of moving averages.
Traders should note that stock is likely to accelerate downward movement once stock closes below Rs 63. The long term momentum indicators have turned bearish and declining.
We recommend traders to SELL now and again on rise to Rs 65.80 with a stop placed above Rs 67.60 for immediate target of Rs 60 followed by Rs 58 levels.
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